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Jye Tai Precision Industrial Q1 loss narrows YOY

Jye Tai Precision Industrial Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 12 Taiwan cents per share, compared with a loss of 27 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$5.8 million, compared with a loss of NT$13.5 million in the year-earlier period.

The normalized profit margin climbed to negative 17.8% from negative 35.6% in the year-earlier period.

Total revenue declined 13.8% year over year to NT$32.7 million from NT$38.0 million, and total operating expenses declined 29.6% on an annual basis to NT$41.7 million from NT$59.3 million.

Reported net income totaled a loss of NT$8.8 million, or a loss of 18 cents per share, compared to a loss of NT$23.5 million, or a loss of 47 cents per share, in the year-earlier period.

As of May 13, US$1 was equivalent to NT$32.68.